a lawsuit. before you judge, take a look at this design. on the left of the brooklyn designers' clothes with the red jacket and all. on the right, the designs are a tribute to relate hot hubby. where do you think this will go? the you see the resemblance? and prince. >> the design on the left has other articles of clothing that even more resemble. it. >> what do you expect her to do? she's told john from the beatles. >> is not the first career. that is for a short. a thing to closing is rubbish on both sides of it. stealing stuff is stealing. >> i don't know why she would want to plan the she was the designer of those. it would you want that to mcclendon that was part of your creative genius there.

sandra: i can see a few people walking around in the greenwich village, but i am not thinking of this going to work. all right. well, moving along, not altogether different. a guitar played by john lennon has just to the auction block. our box played by not only john lennon but george harrison from the bills. the guitar is expected to sell for between $20,300,000. would you guys -- >> if i had money to burn and love the beatles will be a fun thing dan, but you know who will buy it? the irs. >> wonder where that tall went. the first place we will go to is yoko ono is apartment. [laughter] sandra: but a guitar. at least this is something that can hold value. >> absolutely. sandra: we have seen people bid on items word, this is a car. >> john lets talk last year. yes. too bad.

sandra: but these guys names will so much value predating a touch, its golden. >> that's true. this guitar was on the plate for maybe 15 minutes according to this report that we were reading . $200,000 is the estimated value of it. sandra: and they could get much bigger it to the much bigger than that. thank you for joining us. that's all the "money" we have for you today. we will see you tomorrow. "the willis report" is next. gerri: hello, everybody. i'm gerri willis. tonight on "the willis report" the supreme court takes up the fight over prescription drugs. drug makers may be forced to give you access to cheaper medicine. also, charity backlash. why your money may not be going to good causes. and don't falls short on your retirement plan. sound advice no matter how rich you are. "the willis report" is on the case. ♪

gerri: all that and more coming up. first, drug companies pay to delay cheaper generics. is that right? that is what a supreme court is deciding. the justices today hearing arguments on whether brand-name drug companies should be allowed to pay generic drug companies said give a cheaper version of the market for a number of years they argue that it helps avoid costly litigation on patent challenges of federal trade commission a consumer advocacy groups say this is driving a prescription costs, a bitter pill for consumers. here to weigh in, ceo of the generic pharmaceutical association and andrew of the association amateur at american citizens. this story, i think, is going to capture the attention of all of our viewers. i will start with you. the government is saying brand-name pharmaceutical companies and the generic companies getting together in a

sweetheart deal that actually puts consumers in a bad spot. how do you respond? >> that is inaccurate. generics, affordable madisons are an american success story. as you know, 80 percent of prescription drugs now are generic. a cost of 25 percent of what the brands are. patent settlements have been part of these savings of $1 trillion thanks to generics over the last in years. a large chunk of that is because of patent settlements. in fact -- gerri: we will let's bring andrew in here for a second. let's let andrew in. >> of course. gerri: he is saying that it is not answered that it is a sweetheart deal and says that it is. it is hurting the very people that the organization represents. >> thank you. what is happening here, a prescription drug manufacturers are cutting a deal with generic drug manufacturers to delay the

entry of a potential generic equivalent, and they're doing this committee litigation costs. had a prescription drug manufacturer pursued litigation and one they can go to market immediately with that generic agent, so we're seeing in the late. with generic drugs based on, for lack of better words, a conspiracy between the restriction dry organizations and generic manufacturers. they are keeping the generic drug on the sideline and both are reaping huge rewards. gerri: let's let ralph in here for a second. conspiracy is a pretty heavy charge. there is a 20-year window for patent protection for these drugs. it is a long time. and the citizens of your organization probably don't have 20 years. ralph, let's hear what you have to say about this issue of collusion. it could be an antitrust issue.

ultimately your members of your organization and big farmers, you are both part of the same big industry. >> well, we are certainly part of the pharmaceutical industry. of course, we are fierce competitors. what the facts are, and serve the conspiracy or collusion is a ridiculous charge. will we are able to do because you have to understand that if we litigate everything we only when 48 percent of the time. if we settle, if we have pat and settlements, settlements save. the consumer gets the affordable medicine that has the generic version 76 percent of the time. gerri: typically what happens is you reduce the pad and tavern to maybe 15 years. that's not good enough for a lot of people out there who need those generic treadway. one of the questions the store brakes on to me is, i wonder, where did generic companies make more money? in the settlements of big farm or do they make more money by

selling generic tracks? >> no one is going to make or save any money if we lose 52 percent of the cases that go determined litigation. we are trying to get generic affordable medicines to consumers as soon as possible. coming five years of four patent exploration. consumers will be saving for nap billion dollars per year. gerri: couldn't they save even more? of there or not these big settlements, you know, and the you have a question here about this? if there or not these big settlements could we bring generics to market much earlier? >> absolutely. the generic manufactured, pursued litigation and win, they can market its generic drug immediately, and everyone's. the settlements are skewing competition from generic drugs. competition is good for all involved. gerri: competition is good. i know your industry says it

takes over 1 billion to bring a drug to market. so if the non generic version, the big farm aversion is lots and lots of money coming years of development, maybe a decade, does it require that 20 years of protection to have new drugs come to market? >> it costs the brand apparently a billion dollars to come to market. because of generics and because of patent settlements, that 20 years has been reduced over the last ten years to 12 years. we lot of eight years from the usual pattern to because of these patents settlements. again, we only when 48 percent of the time when we litigate to conclusion. the consumer wins 76 percent of the time when you factor in patent settlement. gerri: the number of deals getting settled is growing and growing dramatically. last year there were 40 of these deals made. you know, i have to ask, you

know, andrew, to you, i'll much of a typical retiree in come is going to drugs and pharmaceuticals? >> more than half of their income, and these people, most of these people are on fixed incomes and as a matter of fact, lot of members are still working past 65 in order to pay for health care, including medications. so when you talk about that, the consumer winning 76 percent of the time, that is not an accurate number. these generic drugs, settlements that are happening with the generic manufacturers and prescription drug manufacturers are skewing competition and simply not allowing for immediate entry of a generic drug, and shared a drug -- when a generic drug was the allegation, which is a lot. gerri: dahlia answer the question, how will supreme court go? and then to your arrival. start with you. >> my sources, capital markets,

the study of 2010. again, win-win for consumers. the generic companies. with respect to how the court will go. gerri: does my question. hal is the court going to rule? >> i believe the court and the congress will uphold what the law has been in three of the four circuit courts, which these are permissible, broken sylmar, pro competition. gerri: andrew, who will win? >> if these are exclusively about keeping generic charge of the market than they should be illegal and they should be outlawed in that the supreme court should rule in that favorite. gerri: a long way to go. thank you for coming out tonight. >> thank you so much. gerri: voice senior closely held views on this. appreciate it. we're just getting started. coming up, do you know where the money you give to charities going to back a new controversy said tonight that the victims of the model of the list. and banks in cyprus remain closed until wednesday to set to

a country gets a new bailout deal. could this crisis bratton her investments here? we will answer that next. ♪ [ male announcer ] with free package pickup from the united states postal service a small jam maker can ship like a big business. just go online to pay, print and have your packages picked up for free. we'll do the rest. ♪ how old is the oldest person you've known?

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gerri: in. gerri: it has been three long months says the tragedy and sandy hook elementary school in newtown, conn., where a madman killed 20 children and six adults. more than 40 organizations have raised nearly $15 million to help the families children's -- to victims' families but there are new questions on one of money has made its way to victims. karen, a spokeswoman joins me now. thanks for coming and the show. so, where is that 15 million? >> right now is sitting with many of the funds waiting to be disbursed. what we're finding is that there is a very long, deliver live,

contemplated, and complicated process for consulting the public, having in this region fund, figuring out where the money's going to go. gerri: it seems to me that these families probably needed this bridling. >> that's correct, and at this point there is only one fund that has actually distributed money to the victims' families. when they formed this said that was their intent, and that is addictive what they're done. they have done is, i believe it's about $800,000 of this point. gerri: the victims' families? you're representing a lot. not just that one city with many others as well. >> that's right. we have basically a loose coalition of victims going back to columbine who have come together. sadly, they have learned that over the years the american public has donated to help them to tragedies. and in many cases the money has

now reached the victims. so we have 50 people from previous tragedies command we have an additional 14 from the new town tragedy who have come together to call for what we are calling a national compassion fund. what that would do is create -- basically it would create an infrastructure, trusted vessel for the american public to donate money that would go directly to the victims, no questions asked. gerri: it is outrageous really that we a three month out of this disaster that shook the nation, and these people are not getting any of the money. americans are so generous. throwing so much money at these people. to think that no one has gotten it yet is really frustrating. do you think that anyone is benefiting from this in a way that they shouldn't, or is this is being held in some accounts a marked deck. >> well, we're not saying that anyone is benefiting improperly. what we're saying is that, unfortunately, what happens is some kind of a nonprofit comes into the community immediately

following the tragedy, and they are recognized as the authoritative safe place to donate money. and so -- unfortunately what happens is they collect the money and they are not equipped to donate or to give the money to the victim's. they are charged with giving money to other non profits. and so what happens is the money comes in as and designated funds which means that the donor intent has not been clarified. so if the mission does not say specifically that the money will go to the victims is undesignated funds which basically means that the organization can decide how to use it, will include a public intent is to help these families through suffering. gerri: i have to tell you, now a lot of people will be our greatest two years. thank you for coming with this story. appreciate your time. >> thank you for ravenous. gerri: meanwhile, next guest says there are steps you can take right now to make sure your

donation gets were you wanted to go. president and ceo of charity navigator. welcome back to the show. i want you to respond to something that she just said about these organizations. and i believe it is united way in western connecticut not being equipped to give money to individuals because what they typically do is just give money to organizations. is it that big of a deal? >> this is an extremely large amount of time for so little money to be moved, so clearly it is a big problem. the capacity of some of these charities is just not there to do the job they need to. so this really is one of the worst that we have seen. gerri: i have flabbergasted. she says people are not getting the money. it is being held while we figure out how will be is treated, but you say, what they're suggesting some of some kind of organization that would handle money in cases like this there may not work. tell me. >> we have seen efforts to try

to get coordination between stakeholders to have these things happen. the politics. sometimes you can create a whole new bureaucracy that can be just as much of a problem is what you want to fix. our suggestion would be that the victims might want to at least begin trying to get standards that everyone will commit to, charities will commit to, how fast it was the money out, they will give money to. given to donors to make sure they know. those sorts of things. if they can be agreed upon first would be great for stepanakert work on trying to get this body in place. in the meanwhile something like that might be more pragmatic. gerri: they're same victims do not get a voice typically. do you agree? >> totally agree. one of the big problems, you know what the product, go somewhere else to buy it. the non-profit sector cover-up that feedback loop is not there. the victims may not have a voice in the process. one of the things we're working

on. we will be grating charities more and more we call the feedback of the beneficiary, the person who is meant to be served. so important in so many charities people have this problem. gerri: our website is great. for rating charities and letting people know how the money is used and how much goes to administration, all those important questions. any other word of advice, quickly, that you would give to people in this situation? >> clearly was alluded to by the other speaker. you really should in these kind of situations designate precisely how you want the money spent because clearly there are problems here. some of these charities may go off track with it. do stipulate where you want the moneys. gerri: good advice. thank you for coming on. great to see you again. now we want to know what you think. here is our question. do you feel your charitable donations are spent properly? and you make it. log on. vote on the right-hand side of the screen and i will share the results of the end of the show. more to come.

cyprus steps back from the brink. some experts are saying another crisis is about to erupt. coming up later, who should pay when the city goes bust? workers and retirees? investor? we are about to find out as austria takes america's biggest public pension fund to court. stay with us. ♪ [ male announcer ] how can power conmption in china, impact wool exports from new zealand, textile prodtion in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the cnections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully befe investing.

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♪ gerri: breaking news. the cyprus central bank in announcing that all banks will remain closed until thursday. reversing an earlier decision to open most of the banks tomorrow.

we may be joined later to talk about that. now, the central bank says the decision is being taken to ensure the smooth functioning of the whole banking system. probably any function in all. what kind of precedent as cyprus said? take a look at this video. you can see a preview of things to come. bank account holders protesting in the streets of this tiny island nation. the government moves to step in and take people's money. that keeps the banks and government operating. stocks in our markets dropping as the euro group president this drives the blueprint, as in the my want to do it again. investors say bad idea. stocks tanked as much as 113 points on that news. no bigger than yellowstone national park. the population of the island nation is about the size of dallas, influence in international markets and pounding your retirement. one of the dynamics at work, the

well-known status as a place to wander, the u.s. officials did not feel so guilty because they say it comes from russian criminals who use cypress as a piggy bank. here is what one at -- one expert told us. >> i think they're going to of very much agree. two years ago they actually plan to run two and a half billion euros, three and a half billion dollars to cyprus. kicking from the eurozone once again. yes. they will look very closely as a mother trading relations with germany. then they can borrow is set some rules which will come under review. you might find it difficult to get work. travel thises and so on. i think that when you start doing the tango with the russians there, you have to be truly careful that the euro does not step on your foot. gerri: don't tangle with the russian bear. the threat that other european banks may face pressure. in rome stocks racking up steep losses. in spain, the government

imposing heavy losses on investors that nationalized banks, forcing shareholders and bondholders to share the cost of restructuring the nation's five big banks. all nationalized. what is next? for more we turn to a former adviser to margaret thatcher. thank you for coming in the show. we appreciate your time. as i look at this and my guess you would have to say unravel, what could be the possible consequences? can we have runs on banks and other countries? >> i think in the short term. thank you for inviting me in the show. in the short term i don't think that will happen, though it may. the reason is that the european central bank as more less said that they stand fully behind the spaniards, the italians, portuguese, so on. and that is a disincentive. it reassures people. that does not mean and the long term that things are not bad year because what it is telling savers and investors around the world is a your money is not actually safe. if you put it in institutions,

banks, others in the eurozone. and the eurozone is liable to approve, if it needs to, perhaps the emergency action, the kind of the effectively expropriation which is will particularly annoys the russians. gerri: let me ask you this. >> abcaeight. gerri: let me ask you this. and now we have a long delay. but an eu official today said what is going on in cyprus is really a blueprint, a blueprint, in other words, the eu may decide yet again to come to depositors and say it is up to you to make a you hold. i cannot imagine that will go over well with depositors in any country. what do you say? >> well, first of all, his words were later disavowed, but taken seriously, and i think you do from what you just said. i think it is a warning to savers that if they invest in the eurozone that the political authorities in charge of banking

may extend to take america. now, this has happened once. whenever it happens the first time people say never again, but it happens again. that is a key factor, and it is going to discourage people from putting money into the eurozone. next time some countries like spain comes to the market asking for a large chunk of investment it is going to find that has to pay a higher rate to a higher risk premium, or it will get the money. that is a key point, but it is also important to realize that the problems of cyprus are generated in large part in brussels. after all, the cyprus bank got into trouble because they took the full part in buying greed bonds, which they lost a lot of money on. they then also took part in the bail lands to help of the other countries that got into trouble in the eurozone. so, these -- it's not that greece is to blame so much. the eurozone and the. gerri: certainly a lot of criticism of the way these banks

have been managed overtime and an incredible amount of publicity in the century over the russian criminals who launder their money through banks in that tiny nation. serious questions about that. howdy respond? >> easily. luck. first of all, the problems with small banks in cyprus, if it were not threatening the of the eurozone. the answer is, it would not. secondly, i have no doubt that there are some russian mafia criminals who have invested their elgon gains in cyprus. of course, the eurozone was happy to except the money. so that is the second point. the third point is, the russians were losing here, not all criminals. a lot are perfectly reasonable, different -- these investors are losing money that it was safe. and finally, worth 40 billion to missing a trick here. it was just 10 billion. he could bailout.

he can get a deal on the oil and gas deposits around the island. he can have zero warm water port if, for example, he loses the money now has assyria. he could do all of these things. he can give angela merkle a bloody nose and he would be tremendously popular in cyprus and in russia. it is amazing to me that the boy is so slow. gerri: some negotiation, i guess. you make a very interesting point. probably not. we appreciate your coming and the show tonight. thank you so much for your time. applauses to speak with you. thank you so much. all right. we will go to jeff flock on the ground in cyprus. what's going on? what is the latest on this banking issue? >> well, we are expecting tomorrow morning around 830 that the banks and cyprus would be open except the two that are part of this plan by the eu and

imf, but we are now hearing that banks will all remain closed. all banks in cyprus until thursday. so much awaited event, folks in cyprus have not had access to banks. they have been able to get atms, but as far as going to the bacon having full access to the accounts, that has not happened and longer than a week. this anticipation has been building. that has now been delayed until thursday. the cyprus central bank reversing itself saying either tomorrow everyone except for two banks, the two largest banks in the country, one of which will be wound down will to be open tomorrow, and that is not happening for another few days. gerri: what is the news on the street? we saw the pictures on the weekend, people in this tree protesting. i cannot imagine how angry and upset people are. you expecting capital flight to mecca will happen once they finally do open as banks?

>> on friday the parliaments here put some controls on certain capital maneuvers here. the government can control capital. the wall street journal is reporting that customs and border patrol agents are looking out for anybody with more than 10,000 euros live in the country . there are a lot to confiscate anything about that. i guess the part of this that makes this at least a muted reaction is that the news came down here somewhere just before midnight. just past midnight here in cyprus. so most folks were asleep by the time the news hit in the wake up tomorrow and find out that they are not allowed to get to the bank. the other issue that was here, going on here this morning is that it is a national holiday. it is greek independence day, what is a cyprus-holiday. there were parades. people were not necessarily getting it off of their mind, but distracting themselves in

the banking crisis, certainly talking about it, but least a cause for celebration, something of a national holiday. it is back to work. that is not happening now. expectation in this, what is essentially -- rihanna shore of people will react. they have to wait two more days. that is, of course, if there are no more push backs. gerri: wow. thank you for coming on. i know it is late. we appreciate your assistance. thank you. gerri: our financial tackle the biggest question including whatever happened to the predicted sell-off. the same big mistakes for rich and not so rich. stay with us. ♪

? fox business studios in new york, here again is gerri willis gerri: it's called a great rotation. despite the market's at or near all-time highs, it's not happening, though many market pros thought that it would. our panel of experts weighs in. joining me now, managing partner in harris financial group, a managing partner at in a capitol management. marshall, co-manager of and compass. welcome to you. i will start with you. investors piling $64 billion into u.s. bond funds in the first two months of this year. what happens to the irritation? >> well, the rrtation is slightly on. people are still leaving money in the bond funds and in bonds because they want the income that they're getting out of

bonds and bond funds that they are not getting out of many other assets. but they are also taking money out of money-market funds and putting it into stocks. gerri: 76 billion into stock mutual funds. to you see this as a rotation? >> well, and i will put into most of the investors the best most of the rally since 2009. there has been -- welcome aid is true. there has been a big fat bridges between the real economy, one side which has been tepid at best verses the stock market rally that has brought the stock to historic highs. and then you throw on top of that all of these those strikes that we see in the market from cypress of north korea to ron which does not help investor confidence. gerri: cypress not helping the situation at all. we thought this originally would be a boon for the market.

stocks turned around. the dow ended up down. what is your analysis alternately what this will do to stocks? >> well, i think we are short-term overbought in the stock markets. people have been begging for reason for the market to go down some people are just searching for anything to get it to go down, but i do not think that that will happen. people are buying guns because they're under invested. what we're seeing is every time the market drops, people rush in because they need to buy. mutual funds and other investors are under investigation into the end of the court, so they will use these opportunities and all the way through the quarter. but to go back to the rotation, we're noticing, justin flow in general, we are seeing people take the have we approach and go to a floating-rate bonds first before they start to segue into equities because people are rotating inside the bond market. gerri: baby steps. we found this interesting stats and what to know what you think. as you know, easter is coming up

and over the past 30 years with the s&p 500 was up your to date is a huge year for stocks. the entire 90% of the time. the you buy into that? is that just one of those markets that the people like to talk about? >> that statistic is troops along with the fact that if the stock market is open january it is a good year for the stocks. most likely. but the other thing, everything i am hearing from the other viewers here is that people follow the same psychology. they set out most of the rally. most of the money flows in toward the end of the rally. and i mean, we advise our clients is something very different. we follow a systematic approach. gerri: i think you are right. you mentioned this before. most consumers mrs. rowley altogether. seems like it is just, you know, what always happens is the consumers of the last of the table. what are you telling your clients are now?

>> we are telling almost -- everyone almost the same thing. we invest for retirement, so we have to provide income. people have to find income where it exists in high-yield bonds and equity funds that pay dividends because we have to create the income first. that is the most important part to miss a that is what we're telling everybody, and we are doing equity income investing right now and dividend growth. finally for the first time in many years receive financial space and dividends. we're starting to use those more in the portfolio, so we're happy about that. gerri: create income. amen. thank you for coming by. enjoy the conversation. thank you. all right. up next, the court battle will determine who pays west city goes broke. retirees, folks working, or is it was investors? we're about to find out. the big star with big implications. a new survey says rich americans are just like the rest of us. we'll explain. ♪ at tyco integrated security, we consider ourselves business optimizers.

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all backed up with world-class monitoring centers, thousands of qualified technicians, and a personal passion to help protect your business. when your business is optimized like that, there's no stopping you. we are tyco integrated security. and we are sharper. gerri: stocks in california in bankruptcy court. the first of a 4-day trial with lawyers trying to convince the judge they have no other option but said it filed bankruptcy protection. the outcome of this case will answer a bigger question with national implications. toupees and as it goes broke? joining me now, partner at frontline strategies. thanks for joining us. how did stocks here in the first place? -- stock to get here in the first place? >> they made some really bad decisions. when the housing boom was going on they decided to put on four major public-works projects inside the city. they ratcheted up their pensions

and benefits and i think the most telling factor was the actually granted for any city employee that had 30 days of service or more free lifetime health care benefits for both themselves independents. gerri: that's ridiculous. you cannot pay for that. not even new york city to pay for that. >> no. and so what happened is the in the pavilion and the whole, go to creditors and sikkim if you guys will just invested some of these bond obligation payments we can make up on the back end. unfortunately u.s. scene that everything is gone by the wayside. the creditors of -- are the ones on the hook. gerri: make up on the back end. for the big question that this case is likely answer is toupees when the city goes bust, the union so often are guilty of driving up this big debt load or the investors and bonds, people who have put their hard earned monny down to buy muni-bonds let the end of the day could be on the truck. >> well, just a little while

back, the courts are going to protect creditors ultimately. unfortunately the creditors go beyond the businesses that message and is the taxpayers were the ones that are on the hook. everything else is going by the wayside. they had to reduce the city budget and staff by 40%. firefighters by 30%. right now the fbi has stockton on is ten most dangerous city -- city's list. the third highest illiteracy rate in the nation. also of the dead go way. >> ultimately their core will say if you need to negotiate in

a stronger position with the folks holding the majority of the debt right now. beckham last year believe they had a $37 million deficit in the city of 166 million. sitting there saying, you owe us $30 million per year. lighter nighter going back to pay. tried twice in the last year the charter renegotiate. the first time they tell them, and this is what is a believable. they did not qualify for hardship. i don't know what that means of the folks. what to they have to do, be under steep -- under siege by north korea? and then on top of that they give them the excuse that legally there's nothing we can do because our contract says are obligated to pay us so that we compare pensioners. gerri: thank you for coming on. appreciate your time. we will continue to paula. i hope you will come back. >> i would love to. thank you. gerri: are you underestimating your retirement needs to make the president of charles robb

joins me next with a startling report. post with the big retirement planning mistakes that we're all making. stay with us. ♪

♪ gerri: confident that your golden years? your survey finds that may not be the case. how to plan for your retirement coming up next. ♪

they're going to of health care residences. it's important to have 100 percent. gerri: interesting. the even with medicare can be as high as $400,000 for these folks this apparently is one of their big worries perry 32% to the primary concern for reserve rate is health care costs. whether you telling people to prepare for? to they need separate saving set aside? what do you do? >> ago the service they have separate savings. first of all, they have to sit down across numbers about what they will be spending a retirement. how much money they have now, how much they need. how was the need to make up for it. in terms of health care expenses you also want to have some cash on the side.

one year of cash, one year of money you will need for the year. and then that is to help you with the unexpected of health care. i think if you really create a plan that supports, sick of the retirement of 100 percent of iicome today you're going to be okay with health care expenses and consider getting a medigap policy as well which would make a difference. gerri: i wonder people are changing the way they think about watching their retirement funds. such a brutal several years after the financial crisis. people lost a lot of money in the markets. very nervous, so nervous, in fact, that many did not want to get back into the stock market. are your customers to your clients pay more attention? are they, you know, having to invest in the stock market? >> when our clients to sit down with us and have a plan and they have a portfolio that is representative of their risk tolerance and their goals and their time frame then they're

investing accordingly then they're not the coming back concerned. they know the market goes up and down, and so they ride the market knowing full well that they stick to their plan and over the long term there will be a carry. gerri: thank you for coming on. i hope you will come back. it was a pleasure. >> thank you for having me. gerri: we will be right back with my "2 cents more" end of my answer to the question of the day. the you feel your charitable donations are spent properly? stay with us. ♪ we went out and asked people a simple question: how old is the oldest rson you've known? we gave people a sticker and had them show us. we learned a lot ofs have known someone who's lived well into their 90s. nd that's a great thing. but even though we're living longer, one thing that hasn't changed: the offici retirement age.

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